A derrogatory term for filipinos, means Fucking Little Island People, as some soldiers would call filipinos during world war two. The teenager of our days now use it as a name for filipinos, which is not right at all since they should be educated on the roots of that word.
WW2 Soldier - These fucking flips better hurry up and make their own weapons because we aint helping them make it.
by Kristoffer Barizo March 12, 2006

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Top Definition
one of filipino ancestry. can also stand for "fine looking island people/person."
dayum! did you SEE that flip!? she was fyyyyyyne!
by el em ay oh February 06, 2004

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If you flip something you make a profit out of it.

Let's say you bought a 5-stick pack of gum for 25 cents and you sell every stick for 10 cents (giving you 50 cents) you just flipped the pack of gum.

I heard there was a show where people flip houses.
They buy some houses, fix them up then sell them for more than they paid.

So I guess you could flip anything, but when I hear someone say they flipped something I'm usually thinking about narcotics.
In the example, "pound" is probably a pound of chronic, cocaine, etc..
Should I shoot out of town and flip this pound? - Mack 10
by JGuzmannn April 17, 2007

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originally a deragatory termed used for filipinos by US soldiers. FLIP = fucking little island people.
if you were a true filipino, you won't kep referring to yourself as "flip". but instead, call yourselves pinoy/pinay or spell out filipino. be proud of your culture.

MABUHAY NG PILIPINAS!
by got_adobo? June 16, 2006

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To go crazy, to go insane.
I was so mad, I thought I was going to flip.
by Light Joker September 19, 2004

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short 4 filipino/filipina person
i'm a fLiP
by aj April 27, 2004

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To sell drugs
I just found a new connect. I got a half pound to flip by friday.
by Tree October 30, 2003

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The act of purchasing drugs (usually a larger quantity) and reselling the same amount for more money.
He's been flipping QPs every day.
by DROC July 31, 2005

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